ZURICH, July 29 — A confidential proposal to restructure FIFA’s commercial operations through a $20 billion private investment fund, orchestrated by Jared Kushner’s Affinity Partners alongside unidentified investors, would create a new for-profit entity to own and operate the federation’s flagship tournaments, according to documents obtained by sources familiar with the matter. The plan would license FIFA’s intellectual property to the proposed entity in exchange for an upfront lump-sum payment of $20 billion. FIFA would then deploy those funds toward global football development grants.
The investor consortium would assume operational control of commercial rights, broadcast negotiations, sponsorship agreements, and hospitality sales across the men’s and women’s World Cups, the revamped FIFA Club World Cup, and potentially the FIFA Arab Cup. FIFA would retain a minority stake and formal governance oversight.
But the filing makes clear that day-to-day operational control would rest with the investor consortium.
The structure and its precedents
The model mirrors the 2023 agreement between the PGA Tour and Saudi-backed LIV Golf, though that deal ultimately collapsed. Sources familiar with the proposal said the mechanism is designed to bypass FIFA’s existing cycle-by-cycle revenue model, in which the federation sells media and marketing rights for each World Cup separately. The 2022 Qatar World Cup generated $7.5 billion in total revenue, with $4.6 billion of that coming from broadcasting rights alone.
Under the proposed fund, FIFA would trade the uncertainty of future cycles for an immediate, guaranteed $20 billion payment.
Opposition and governance concerns
Critics, including the Union of European Football Associations, argue the arrangement would reduce transparency and grant outside investors undue influence over tournament scheduling, host selection, and prize money distribution. UEFA’s objections carry weight within FIFA’s governance structure, as European federations represent a significant voting bloc. No formal vote on the proposal has been scheduled.
However, FIFA President Gianni Infantino has signaled support for exploring the plan, according to multiple sources familiar with his private remarks. The FIFA Council, a 37-member body including representatives from each of the six continental confederations, is expected to debate the proposal at its next meeting in March 2025.
Timeline and what comes next
On the timeline, the March 2025 council meeting represents the earliest formal inflection point. Between now and then, the proposal’s architects face the task of securing support from confederation presidents and key national associations, many of whom rely on FIFA development grants funded by the federation’s commercial revenue. The $20 billion figure itself has drawn scrutiny.
Some financial analysts question whether the valuation aligns with projected long-term tournament revenue, particularly given geopolitical uncertainties around future host selections and the risk of broadcast market saturation. The inclusion of the FIFA Arab Cup, a regional tournament with less commercial heft than the World Cup, has also raised questions about how the fund would value different properties within the portfolio.
The source material identifies Affinity Partners as the reported orchestrator, alongside “other unidentified investors.” The precise composition of the investor consortium remains opaque. Sources familiar with the matter said the structure has been designed to accommodate sovereign wealth funds and institutional investors seeking long-term sports media exposure. What is clear is that the proposal would fundamentally alter the commercial architecture of world football’s governing body, shifting from a tournament-by-tournament sales model to a single, decades-long licensing arrangement with a private entity.
The debate over whether that shift serves FIFA’s development mission or private investor returns will define the coming months of council negotiations.
Sources
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